[Day] Closing Notes

Well, I didn’t make any full day trades today. There wasn’t enough volatility in the market. The best trade was to short the retails when the Dow took a turn about 1pm. Definitely a good day for the longs. The profit taking at the end of the day was healthy, and slightly weaker than I anticipated. The bulls were spoiled to close in the green. Remember, tomorrow is options expiration day.

• NVEC– was my best call. I spotted the rock hard resistance at $25, noting that it failed to break it 4x (actually it attempted a fifth time then it fell). Unfortunately for me, I never played it.
• SHLD– showed weakness throughout the day. Again, I never played it. Actually would have been a good day trade too. Short this until the end of the year.
• MLS– showing signs that a bottom has formed at $13. Time to swing this long for a short term bounce.
• RIMM is beating PALM up pretty good.
• TIE has too much negative momentum. Had to exit when it refused to go green while the Dow was rallying today.
• GME performed a rare fill-the-gap after dropping hard on the day of earnings.
• CHINA is now on the short sell radar
• BDCO is back on the short sell radar
  

interesting stuff w/ the retails…

• ANF & AEOS reported already and have trended up since. Second half of the day they were victim of profit taking/sell off (mirrors the Dow
• CHS– profit taking second half of day
• CTRN– wild ride. Spiked up yesterday on upgrade, tanked today on profit warning, but still managed to climb up $4.

Off to the beach!!!